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Aug 28, 2009
08/09
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we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at all kinds of stocks before i settle on one. tdd#: 1-800-345-2550 if i think i'm onto something i'll check it out, tdd#: 1-800-345-2550 you know, see what other traders are up to. tdd#: 1-800-345-2550 when everything feels right though, tdd#: 1-800-345-2550 that's when i get serious. tdd#: 1-800-345-2550 and the minute i get into something, tdd#: 1-800-345-2550 i already know when i want to get out. tdd#: 1-800-345-2550 of course, every now and then i'll talk with somebody tdd#: 1-800-345-2550 who knows what i'm trying to do. tdd#: 1-800-345-2550 (announcer) switch to schwab to
we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at...
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Aug 10, 2009
08/09
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thanks to both of you for joining us. jeff, what do you think? you think we're due for a pullback here? >> yeah. as you know, we were on the show march 2nd saying every indicator that my dad and i have says the market bottoms that week. since then we have been steadfastly bullish often commenting we think it's a mistake to get too bullish. that said it looks to me like things are pretty stretched in the near term. but i don't think it will be a serious pullback and i think you'll get a rally too before the end of the year. >> so you think we're going to pull back here within the next week, two weeks, something like that? give me some timing. >> within the next two weeks. 96% of the financial stocks are above their 50-day moving average. that's typically pretty overbought. >> okay. but then you think we're going to rebound. so sounds like that might be a buying opportunity for your favorite stock. >> that's what i think. i think the upcoming third and fourth quarter earnings comparisons are going to look pretty good. >> peter, what do you think? >
thanks to both of you for joining us. jeff, what do you think? you think we're due for a pullback here? >> yeah. as you know, we were on the show march 2nd saying every indicator that my dad and i have says the market bottoms that week. since then we have been steadfastly bullish often commenting we think it's a mistake to get too bullish. that said it looks to me like things are pretty stretched in the near term. but i don't think it will be a serious pullback and i think you'll get a...
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Aug 17, 2009
08/09
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thanks for being with us. good night. >>> get announce the boost on stronger than expected earnings and a bullish outlook from the company.y. >>> steven spielberg completes the funding for the new dreamworks studios and for the first time in a month, gas prices fell last week down a penny to $2.64 a gallon. that's cnbcnews.com news now. "fast money" starts now. >>> is it about to become a cruel, cruel summer on the street? you can't afford to miss this show. welcome to "fast money," live from the market site, these are your "fast money" traders, we've got the summer correction covered from all angles. pete will tell you how to protect your profits. karen's got your selloff shopping list, and later peter says how long the correction will last. first, let's get to the word on the street. guys, this is a healthy pullback. the start of a correction. what do you make of it, guy? >> start with something bigger, i believe. we talked about wednesday was the last day here. 30 or 40 s&p points, worth about 40, i think w
thanks for being with us. good night. >>> get announce the boost on stronger than expected earnings and a bullish outlook from the company.y. >>> steven spielberg completes the funding for the new dreamworks studios and for the first time in a month, gas prices fell last week down a penny to $2.64 a gallon. that's cnbcnews.com news now. "fast money" starts now. >>> is it about to become a cruel, cruel summer on the street? you can't afford to miss this show....
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Aug 17, 2009
08/09
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stay with us. of their dreams.by the car during the lexexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 is 250. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> home depot earnings out tomorrow. pfizer and most of the drug stocks doing a little bit better. techs, as you see, are definitely ladefinite ly lagging. >> let's take a look at some of the under the radar companies. their experimental drugs that treats a rare genetic disorder received temporary approval from the food and drug administration. shares up 12%. interdigital plunging after a u.s. internat
stay with us. of their dreams.by the car during the lexexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 is 250. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a...
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Aug 20, 2009
08/09
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henry mcveigh is with us. he's head of global macro and asset allocation at morgan stanley investment management. henry-g to see you, welcome back, my friend. you say constructive. what does that mean? >> i think by year end we're probably going to be at 1,100 and before the market peaks next year we'll probably be at 1200. with you one thing we've within focus on is corporate profitability. what you're seeing on the s&p and across the globe is corporate margins are troughing at 67 higher levels. some of that's because tech and health care are a bigger part earnings mix, but also just overall the corporates weren't the ones that were the big offenders this time, it was really the consumer. so we think earnings this year will be a little better than expected, i think next year $70 is not out of reach for the s&p. the other big thing you see in profitability, we're getting rid of all the bad companies. if you take out the gms, the merrills, the aigs, you're adding about seven bucks to the s&p this year and nobod
henry mcveigh is with us. he's head of global macro and asset allocation at morgan stanley investment management. henry-g to see you, welcome back, my friend. you say constructive. what does that mean? >> i think by year end we're probably going to be at 1,100 and before the market peaks next year we'll probably be at 1200. with you one thing we've within focus on is corporate profitability. what you're seeing on the s&p and across the globe is corporate margins are troughing at 67...
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Aug 11, 2009
08/09
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thank you so much for joining us. enjoy the rest of your conference. >> thank you, michelle. >> we've got about 12 minutes before the closing bell. dow jones industrial average and the nasdaq still in negative territory. dow is off 74, nasdaq lower by 17. scott? >> the summer rally beginning one month ago today. where are people putting their money right now? you may be surprised by that answer. we're back in a second. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about trading. tdd#: 1-800-345-2550 i always have my eye out for a stock on the move. tdd#: 1-800-345-2550 doesn't matter if a company sells computer chips tdd#: 1-800-345-2550 or, i don't know, fish and chips. tdd#: 1-800-345-2550 i'll look at all kinds of stocks before i settle on one. tdd#: 1-800-345-2550 if i think i'm onto something i'll check it out, tdd#: 1-800-345-2550 you know, see what other traders are up to. tdd#: 1-800-345-2550 when everything feels right though, tdd#: 1-800-345-2550 that's when i get serious. tdd#: 1-800-345-2550 and the
thank you so much for joining us. enjoy the rest of your conference. >> thank you, michelle. >> we've got about 12 minutes before the closing bell. dow jones industrial average and the nasdaq still in negative territory. dow is off 74, nasdaq lower by 17. scott? >> the summer rally beginning one month ago today. where are people putting their money right now? you may be surprised by that answer. we're back in a second. tdd#: 1-800-345-2550 if i'm breathing, i'm thinking about...
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Aug 7, 2009
08/09
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thank you so much for joining us. let me ask you quickly, were you surprised by today's jobs number or does that go along with what you've been seeing? >> we did see jobs at our were up over 10% in july and june. so i'm not claer completely surprised but i think the number was better than most people expected and trending the right way. we'll see what happens in the next couple months, maybe the number will soften as they revied it in the last couple months. so i'm not going to be overly enthusiastic about it today. but i think it's a positive sign and we're klay we're heading the right direction. >> so postings, people looking for jobs -- people looking for employees was up 10% in the last month? >> the jobs posted on the site was up 10% over june. >> okay. and what kind of jobs and where are they located? >> you're seeing obviously health care's remained strong throughout the downturn. it add jobs. and the bls report has added jobs on our site. i think we saw the restaurant, food service industry is definitely impro
thank you so much for joining us. let me ask you quickly, were you surprised by today's jobs number or does that go along with what you've been seeing? >> we did see jobs at our were up over 10% in july and june. so i'm not claer completely surprised but i think the number was better than most people expected and trending the right way. we'll see what happens in the next couple months, maybe the number will soften as they revied it in the last couple months. so i'm not going to be overly...
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Aug 25, 2009
08/09
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what i see bernanke doing, just give us more power. we have weren't able to properly oversee bank holding companies. let us now take responsibility for. >> let me clarify this for a second. first of all, it's president obama who has proposed that the fed act as systemic regulator. that comes from the president of the united states. not from mr. bernanke. number two, just a moment, sir. number two, i think it's beyond debate that in light of the near death experience we all saw from march -- from september to march, that we need systemic regulation and today there is not a party which is responsible for it. i think that's beyond debate. therefore the question is, who, not whether. and there's not a party available or remotely available which has the experience or the resources or is otherwise better qualified to handle this new assignment on systemic regulation than the federal reserve which after all, already regulates the largest banks, the bank holding companies. so this is president obama's proposal. it's the right proposal. and if
what i see bernanke doing, just give us more power. we have weren't able to properly oversee bank holding companies. let us now take responsibility for. >> let me clarify this for a second. first of all, it's president obama who has proposed that the fed act as systemic regulator. that comes from the president of the united states. not from mr. bernanke. number two, just a moment, sir. number two, i think it's beyond debate that in light of the near death experience we all saw from march...
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Aug 21, 2009
08/09
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we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. >>> net income coming in at $228 million. it was 33 cents a share. on the back of that gap received two upgrades. sbr and key bank capital markets raised the stock rating to an outperform. the stock is trading higher today, as you can see there, better than 3% higher. and the outlook continues to be challenging, but we will talk more about that. gap is working through this tough economic environment. it is also trying to regain ground on rivals by revitalizing the brand. >> they need to be more aggressive to try to get the consumer to try the product. the advertising, i believe, suggests that they are feeling about their merchandise assortment and better about the overall presentation. but again, the underlying consumer trends have been challenging, and i do think it's going to be a difficult back to school and holiday selling season. >> and joining me now in a "first
we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. >>> net income coming in at $228 million. it was 33 cents a share. on the back of that gap received two upgrades. sbr and key bank capital markets raised the stock rating to an outperform. the stock is trading higher today, as you can see there, better than 3% higher. and the outlook...
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Aug 12, 2009
08/09
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they led us into the fed decision. they're leading us out of it most actively. >>> hi, folks. i'm matt nesto with the "closing bell" realtime flash. i want to draw your attention to the hottest stock in the mid-cap index here today. abc telecom. ticker adct. it's up almost 30%. its best day in at least a decade. the stock's up now, what, 60% on a year-to-date basis. three weeks ahead of their third quarter -- fiscal third quarter results. the company coming out and saying their earnings per share look to be stronger than they originally thought. higher than consensus. and they also are expanding a cost-cutting restructuring program to north america and latin america. there's the bad news. if you're a ten-year holder of the stock. it was once 300 and change. but truth be told, this thing is a momentum play off the bottom in the telecom equipment space. it competes with names like ciena and tellabs. adc telecom about a $900 million market cap. rebecca? >> thank you, matt nesto. short-term vulnerabilities, long-term upside, that is what the charts are telling us about the direct
they led us into the fed decision. they're leading us out of it most actively. >>> hi, folks. i'm matt nesto with the "closing bell" realtime flash. i want to draw your attention to the hottest stock in the mid-cap index here today. abc telecom. ticker adct. it's up almost 30%. its best day in at least a decade. the stock's up now, what, 60% on a year-to-date basis. three weeks ahead of their third quarter -- fiscal third quarter results. the company coming out and saying...
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Aug 18, 2009
08/09
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joining us now, rich peterson is with us. along with greg olsen, gentlemen, always nice to have you on the program. how are you investing in this environment? >> we think the market may have gotten a little bit ahead of the economy and we wouldn't be surprised if we see a couple more% and on the pullback. as we see these, we're looking for opportunities to put more money to work because we think the long-term trend is going to be up. >> yesterday we had this decline which started in china, goes to europe and then in the united states. here we are back in bull market territory again. >> if i said it once, i said it many times. like a shamwow! market. goes higher. we had the bad news coming out of china yesterday and make up half the yesterday's losses. the fact that we're looking again in a day, all comes down to profits, about earnings. s&p 500 is probably going to earn somewhere short of $60 per share in 2009. you put a 17 multiple on that, looking about a year and target about 1020, look out for 2010, the census forecast fo
joining us now, rich peterson is with us. along with greg olsen, gentlemen, always nice to have you on the program. how are you investing in this environment? >> we think the market may have gotten a little bit ahead of the economy and we wouldn't be surprised if we see a couple more% and on the pullback. as we see these, we're looking for opportunities to put more money to work because we think the long-term trend is going to be up. >> yesterday we had this decline which started in...
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Aug 18, 2009
08/09
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thanks for joining us. nick, back to school certainly one of the big issues here, one of the more important times of the year for the retail sector. what are you expecting going back into school and do you think the rally in retail is justified? >> i think it's going to be a sluggish back to school year. i think the market is ahead of itself in retail. and we need to have a little bit of a correction here. i just think people are going to continue to be a little bit cautious and you know, for that reason, i'm kind of playing for a little bit much a near-term correction. >> do you agree with that, eric? >> yeah, i think we would expect the consumer to reengage like they were in the 2006 seven era are going to be disappointed. what we're hearing from retailers so far is positive news on the back to school front. you know, there is a big move in consumer discretionary stocks, retail in particular. if we do see an economic recovery, there's probably more room to go in those stocks. >> what do you want to do? do
thanks for joining us. nick, back to school certainly one of the big issues here, one of the more important times of the year for the retail sector. what are you expecting going back into school and do you think the rally in retail is justified? >> i think it's going to be a sluggish back to school year. i think the market is ahead of itself in retail. and we need to have a little bit of a correction here. i just think people are going to continue to be a little bit cautious and you know,...
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Aug 21, 2009
08/09
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we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> at the federal reserve's annual meeting in jackson hole, chairman ben bernanke said that the u.s. economy is leveling out and that near-term growth prospects appear good. the speech is being called a victory lap by some fed watchers, but is it too early to celebrate? joining me now to talk about that is chris lowe, chief economist with ftn financial, and dan alpert, managing director at westwood capital. gentlemen, good to have y
we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick....
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Aug 19, 2009
08/09
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i think they're going to be with us for a long time. the demographics argue for increased consumption from them, not less. >> walter, what do you think? >> near-term if you look at the shanghai stock index it looks like a big bubble just burst. it's in a freefall. and that does not bode well for those long the u.s. markets on the hope that china is going to bail us out. we see much more down side risk than up side potential here. in commodities and equities. and the only market that we see significant up side in is the u.s. dollar because we see there's a crushing wave of deflation ahead over the next couple of years that's going to boost the dollar up near parity with the euro, crush commodity prices, and beat down the stock market well below the march lows. >> and yet you've got people who are on the ground, walter, who say look, china is on fire, we're talking about 8%, 9% growth, back in action there. what do you base these figures on? where's the evidence that in fact we are going to see further upset in china from your standpoint?
i think they're going to be with us for a long time. the demographics argue for increased consumption from them, not less. >> walter, what do you think? >> near-term if you look at the shanghai stock index it looks like a big bubble just burst. it's in a freefall. and that does not bode well for those long the u.s. markets on the hope that china is going to bail us out. we see much more down side risk than up side potential here. in commodities and equities. and the only market that...
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Aug 20, 2009
08/09
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we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. finally, good news for people with type 2 diabetes or at risk for diabetes. introducing new nutrisystem d, the clinically tested program for losing weight and reducing blood sugar. hi i'm mike, and i lost 100 pounds on nutrisystem d when i was first diagnosed with diabetes, that first step was more like a giant leap. till i discovered nutrisystem d. in a clinical study people on nutrisystem d lost 16 times more weight and reduced their blood sugar 5 times more than those on a hospital-directed plan. plus a1c was reduced .9%. choose from over 140 menu options, there is no counting carbs, calories or points. i lost 100 lbs. and lowered my blood sugar level. nutrisystem d changed my life. mike is one of many who have lost weight and controlled their diabetes with new nutrisystem d. backed by 35 years of research and low glycemic index science nutrisystem d works. satisfa
we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. finally, good news for people with type 2 diabetes or at risk for diabetes. introducing new nutrisystem d, the clinically tested program for losing weight and reducing blood sugar. hi i'm mike, and i lost 100 pounds on nutrisystem d when i was first diagnosed with diabetes, that first step was...
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Aug 24, 2009
08/09
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hedge using the vix. and i think to a certain extent that sort of narrows the volatility back down. doesn't necessarily mean it has to go down. but it means the oscillations, the movements are a little smaller generally. >> but that's a good point, jon. it's not just that you can trade the vix, it's that options trading itself has exploded in the last several years. so when you get much, much more liquidity, you get more efficient pricing, do you not? it might not be impacting how the vix is trading. >> exactly. the reason we got to those xleem levels, bob, back in november of last year or march of this year was that light of the big firms that frankly were on the other sides of the trarksds the natural risk takers, were taken out of the markets themselves, either because their hedge fund blew up, their firm was limiting the amount of risk they could take and so forth. now with a lot of those firms back in the market there's, like you say, a more efficient market on both sides, bidding and offering. >> i
hedge using the vix. and i think to a certain extent that sort of narrows the volatility back down. doesn't necessarily mean it has to go down. but it means the oscillations, the movements are a little smaller generally. >> but that's a good point, jon. it's not just that you can trade the vix, it's that options trading itself has exploded in the last several years. so when you get much, much more liquidity, you get more efficient pricing, do you not? it might not be impacting how the vix...
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Aug 27, 2009
08/09
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we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. >>> here's a look at some of today's winners and losers. >>> welcome back. toronto dominion financial, one of canada's largest financial institutions, reported adjusted earnings increased 17%. but with loan loss provisions doubling, the company's earnings fell 8 1/2%. joining me now, inside these numbers in a cnbc xwlufs is td bank financial ceo ed clark. he joins us from his company's headquarters in the u.s., cherry hill, new jersey. mr. clark, good to have you on the program. welcome. >> great to be back here, maria. >> great to see you again. can you characterize the quarter for us? clearly you set aside more money for bad loans. tell us what went on in the last three months, particularly with that need into crease loan loss reserves. >> it has been pretty spectacular. why the record earnings for us, 1.3 billion, up 17%, but in that you really have two effects goi
we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. >>> here's a look at some of today's winners and losers. >>> welcome back. toronto dominion financial, one of canada's largest financial institutions, reported adjusted earnings increased 17%. but with loan loss provisions doubling, the company's earnings fell 8 1/2%. joining me...
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Aug 3, 2009
08/09
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i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". ever want to look over the shoulder of a seasoned stock trader? well, here's your chance... i'm running strategy desk from td ameritrade to set up a trading strategy based on how i think the market's trending-- right now i'm looking at a 20-80 stochastic cross. now, i could be running multiple strategies... my own tweak or some combination-- but for now--this is good... this is strategy desk, advanced technology for traders from td ameritrade. it's designed specifically for traders. with strategy desk i can compare the 20-80 with other strategies and back-test them all. multiple strategies. multiple stocks. over time. and i can look at that at the symbol level or have it charted out for me more visually. and i'm not trading on emotion... a buy
i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". ever want to look over the shoulder of a seasoned stock trader? well, here's your chance... i'm running strategy desk from td ameritrade to set up a trading strategy based on how...
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Aug 6, 2009
08/09
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i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. >>> it is still a long way to christmas but cnbc's matt nesto has an early present for you -- we've got to cut you off. let's go to president obama in the diplomatic reception room. he's going to comment on sonia sotomayor. >> deeply gratified that the senate has voted to confirm judge sonia sotomayor as our nation's 111th supreme court justice. i want to thank the senate judiciary committee, particularly its chairman, senator leahy, as well as its ranking member, senator sessions, for giving judge sotomayor a thorough and civil hearing, and i thank them for doing so in a timely manner so she can be fully prepared to take her seat when the court's work begins this september. the members of our supreme court are granted life tenure and are charged with the vit
i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm bill kurtis and i'm faster than floyd mayweather. (announcer) switch to the nation's fastest 3g network and get the at&t laptopconnect card for free. >>> it is still a long way to christmas but cnbc's matt nesto has an early present for you -- we've got to cut you off. let's go to president obama in the diplomatic reception room. he's going to...
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Aug 14, 2009
08/09
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thanks so much for joining us. have a great weekend. >> thank you. >> we've got about 11 minutes to go here before the closing bell. the dow off the lows of the session but still down triple digits, down 111 at last check. >> and melissa, up next, we go to the cnbc investor network. we're going to take another look at this market, where it's headed with the pullback for the day and the week. is this a buying opportunity? are stocks attractive here? >>> you think we're going to start falling again beyond today and this week? >> well, that's absolutely true. i think it's predicated on the fact that i guess i'm not as sanguine as your last guests on the economy. you know, the consumer is just tapped out, and we can see that in the consumer confidence numbers. we see that in the credit markets. you know, retail sales are down. you know, the economy to me just doesn't look in good shape. and i realize we have to stop declining before we start growing. but frankly, i think we've had a bit of a recovery and now we're goin
thanks so much for joining us. have a great weekend. >> thank you. >> we've got about 11 minutes to go here before the closing bell. the dow off the lows of the session but still down triple digits, down 111 at last check. >> and melissa, up next, we go to the cnbc investor network. we're going to take another look at this market, where it's headed with the pullback for the day and the week. is this a buying opportunity? are stocks attractive here? >>> you think we're...
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Aug 26, 2009
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tell us about it. why -- the sponsorship with barclays, your relationship with bob. >> well, maria, first of all, back to liberty national, you're looking at two members here. so we're biased. we love this golf course. it's a 15-minute ferry ride from manhattan. and it's so nice for us to be able to come here and stay in manhattan. and as far as my golf game, i'm trying to get it sharp here because we start our big stretch here with the playoff right here at the barclays. i've been lucky to have a relationship with barclays the last few years, and this event right here is one of the premier events that we have on the pga tour, and i'm proud to be part of it. >> so phil, how do you prepare for this? this is a big event for you, i know. >> yeah, well, we practice hard. i had last week off and went and saw butch harmon in las vegas, who's my swing instructor, and tried to get my golf swing down because ball strikingwise this is one of the most demanding golf courses that we play on tour, yet it's one of t
tell us about it. why -- the sponsorship with barclays, your relationship with bob. >> well, maria, first of all, back to liberty national, you're looking at two members here. so we're biased. we love this golf course. it's a 15-minute ferry ride from manhattan. and it's so nice for us to be able to come here and stay in manhattan. and as far as my golf game, i'm trying to get it sharp here because we start our big stretch here with the playoff right here at the barclays. i've been lucky...
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so this augurs well for us. because one of the reasons why our growth slowed down was our exports slowed down. now our exports will go up again with china as the major buyer. if you talk about the sources of growth of asia, i would say that there are three related ones. one is our ingenuity in the world market, like i mentioned, bbo in the philippines. second, it's because some of the major drivers and economic powers of the 21st century are in our region, china specifically. and then -- and which means that there's a lot of intra-asia trade. in the past asia produced for america, for europe. now asia is producing for asia. because we have this very big market of china.a. we have india as well. and japan is still a very big economy, even if it's in recession. >> the world is watching to see how china will make this transition from an export-led economy to a consumer-led economy. you think that transition is well on its way? >> we are seeing it. we are feeling it in the philippines. china buys of course a lot of
so this augurs well for us. because one of the reasons why our growth slowed down was our exports slowed down. now our exports will go up again with china as the major buyer. if you talk about the sources of growth of asia, i would say that there are three related ones. one is our ingenuity in the world market, like i mentioned, bbo in the philippines. second, it's because some of the major drivers and economic powers of the 21st century are in our region, china specifically. and then -- and...
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that's the most krit k58 variable to us right now. >> sure. do you agree with the investment grade corporate right now, brend s an? >> we think staying with the manager or with sectors with companies that are higher quality and more defensive in nature. rather than transitioning out we think focus should be on those managers and those sectors that can provide good up side and down side participation. that's our goal. >> like which ones? >> again, energy, utilities, cable. those are sectors that over the long haul have provided a good upside down trade-off. we think it might be prudent to be more defensive here but we think it's primarily because the lower quality has had quite a run that maybe unwarranted. >> they certainly have been where the action is this year. gentlemen, thank you. so good to see you both. thanks. california meanwhile cleaning house to try to close its budget gap. we'll explain how the dddddd >>> welcome back. california holding a huge garage sale this week as part of its effort to get the state's financial house in o
that's the most krit k58 variable to us right now. >> sure. do you agree with the investment grade corporate right now, brend s an? >> we think staying with the manager or with sectors with companies that are higher quality and more defensive in nature. rather than transitioning out we think focus should be on those managers and those sectors that can provide good up side and down side participation. that's our goal. >> like which ones? >> again, energy, utilities,...
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compare with us -- for us, rather, the recovery in europe versus asia. >> sure. well, the u.s. has a more flexible structure per job, so we've been able to cut costs. that's where all of the q2 surprises have come from. the top line's been very anemic where as in europe you obviously have a much more difficult time in terms of cutting costs and therefore the growth, the earnings growth isn't quite so high. but on the other hand, you're getting two p/e points less that you have to pay for european equities. so it's more or less in the price, and there's no difference between the u.s. and europe right now in my mind as a process peck for equity markets. >> so let's say hypothetically speaking that we are seeing actually the recession over around the world and we are looking forward to growth. what kind of a recovery do you expect? that i guess is the question of the day, doug. >> well, there are two places that we like a lot, where we think there's a pretty strong recovery. first is south korea. and the second is brazil. in both cases you've had significant stimulus but then when
compare with us -- for us, rather, the recovery in europe versus asia. >> sure. well, the u.s. has a more flexible structure per job, so we've been able to cut costs. that's where all of the q2 surprises have come from. the top line's been very anemic where as in europe you obviously have a much more difficult time in terms of cutting costs and therefore the growth, the earnings growth isn't quite so high. but on the other hand, you're getting two p/e points less that you have to pay for...